Manila's Rizal Bank up nearly 6 pct after reports of possible acquisition

MANILA Tue Aug 26, 2014 11:50pm EDT

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MANILA Aug 27 (Reuters) - Shares in Rizal Commercial Banking Corp rose nearly 6 percent on Wednesday after media reports said that Taiwan's Cathay Financial Holding Co was in talks to buy a 20 percent stake.

Rizal shares rose up 5.6 percent to 55.95 pesos each at 0340 GMT, outpacing the financial services index which edged up 0.12 percent. Trading volumes in the stock were more than three times the average 90-day trading volume. (Reporting by Rosemarie Francisco; Editing by Miral Fahmy)